iA Clarington Investments announces changes to enhance its lineup of actively managed mutual funds
TORONTO – June 29, 2020 /CNW/ - IA Clarington Investments Inc. (“iA Clarington”) today announced a number of fund name changes, portfolio manager changes, proposed fund mergers, and fund terminations.
“We always strive to ensure that our lineup of high-conviction, actively managed mutual funds remains aligned to the expectations of investors, and optimally positioned for evolving market conditions. We also aim to make it as simple and straightforward as possible for investors and their advisors to navigate our product shelf and identify the solutions best suited to their needs. The changes we’re announcing today are undertaken with both of these goals in mind,” said Adam Elliott, Senior Vice-President & National Sales Manager, iA Clarington.
Please see below for a summary of the changes. Important additional details may be found at iaclarington.com/FundUpdates
Fund name changes (effective June 29, 2020)
|Previous name||New name|
|IA Clarington Bond Fund||IA Wealth Core Bond Pool*|
|IA Clarington Global Allocation Class||IA Clarington Loomis Global Allocation Class|
|IA Clarington Global Allocation Fund||IA Clarington Loomis Global Allocation Fund|
*Please note that there are series changes to IA Wealth Core Bond Pool, including the merging of Series F into Series FX on or about July 24, 2020. Visit iaclarington.com/FundUpdates for details.
Portfolio manager changes (effective June 29, 2020)
|Fund||New portfolio manager|
|IA Clarington Canadian Conservative Equity Class*||Donny Moss, Industrial Alliance Investment Management Inc.|
|IA Clarington Canadian Conservative Equity Fund*||Donny Moss, Industrial Alliance Investment Management Inc.|
|IA Clarington Global Opportunities Class*||Eileen Riley & Lee Rosenbaum, Loomis, Sayles & Company L.P.**|
|IA Clarington Global Opportunities Fund*||Eileen Riley & Lee Rosenbaum, Loomis, Sayles & Company L.P.**|
|IA Clarington Global Yield Opportunities Fund||Clément Gignac, Industrial Alliance Investment Management Inc.***|
*Closed to new investors. **Certain series will have fee waivers. ***With this change, Clément Gignac assumes lead portfolio manager responsibilities. Previously he was co-lead manager.
|Terminating fund*||Continuing fund||New portfolio manager(s), effective June 29, 2020||Proposed merger date|
|IA Clarington Growth & Income Fund||IA Clarington Strategic Income Fund||Dan Bastasic, iA Clarington||September 25, 2020|
|IA Clarington North American Opportunities Class||IA Clarington Canadian Small Cap Fund||Ian Cooke & Joe Jugovic, QV Investors Inc.||November 27, 2020|
|IA Clarington Focused Canadian Equity Class||IA Clarington Canadian Small Cap Fund||Ian Cooke & Joe Jugovic, QV Investors Inc.||November 27, 2020|
*Effective June 29, 2020, the proposed terminating funds will be closed to new investors.
Fund terminations (effective September 11, 2020)
|Forstrong Global Strategist Balanced Fund|
|Forstrong Global Strategist Growth Fund|
|Forstrong Global Strategist Income Fund|
|IA Clarington U.S. Equity Opportunities Fund|
Guaranteed Investment Fund (GIF) name and portfolio manager change (effective June 29, 2020)
|Previous name||New name||New portfolio manager|
|IA Clarington Global Opportunities GIF||IA Clarington Loomis Global Equity Opportunities GIF||Eileen Riley & Lee Rosenbaum, Loomis, Sayles & Company, L.P.|
About IA Clarington Investments Inc.
A subsidiary of Industrial Alliance Insurance and Financial Services Inc.—Canada’s fourth-largest life and health insurance company—iA Clarington offers a wide range of investment products, including actively managed mutual funds, managed portfolio solutions, Active ETF Series and socially responsible investments. As of May 30, 2020, iA Clarington has more than $14 billion in assets under management. For more information, please visit iaclarington.com
About iA Investment Management Inc.
Industrial Alliance Investment Management Inc. (iA Investment Management) operates as a subsidiary of Industrial Alliance Insurance and Financial Services Inc. It was founded in 2004 and is based in Quebec. With over 100 investment professionals, iA Investment Management manages general portfolios, segregated funds and mutual funds for the Industrial Alliance group. As of March 31, 2020, iA Investment Management has $97 billion in assets under management.
About Loomis, Sayles & Company, L.P.
Since 1926, Loomis, Sayles & Company has helped fulfill the investment needs of institutional and mutual fund clients worldwide. The firm’s performance-driven investors integrate deep proprietary research and integrated risk analysis to make informed, judicious decisions. Teams of portfolio managers, strategists, research analysts and traders collaborate to assess market sectors and identify investment opportunities wherever they may lie, within traditional asset classes or among a range of alternative investments. Loomis Sayles has the resources, foresight and the flexibility to look far and wide for value in broad and narrow markets in its commitment to deliver attractive sustainable returns for clients. This rich tradition has earned Loomis Sayles the trust and respect of clients worldwide, for whom it manages $271.9 billion USD* in assets (as of March 31, 2020).
About QV Investors Inc.
QV Investors Inc. is an independent, Canadian investment manager committed to providing excellence in security selection, portfolio management and client communication. Founded in 1996, QV stands for "Quality" and "Value". These characteristics resonate through the firm's culture and investment principles, from the analysis of investments to the competitive fees that it offers to clients. QV manages money on behalf of pension funds, insurance companies, mutual fund companies, foundations, endowments and high-net-worth private clients. As of May 30, 2020, QV Investors manages over $6 billion in assets. For more information, visit www.qvinvestors.com
*Includes the assets of Loomis, Sayles & Co., L.P., and Loomis Sayles Trust Company, LLC. Loomis Sayles Trust Company is a wholly owned subsidiary of Loomis, Sayles & Company, L.P. Loomis Sayles is the trade name of Loomis, Sayles & Company, L.P. Effective February 23, 2015, the sub-advisor of IA Clarington Loomis Global Allocation Fund changed from Aston Hill Asset Management Inc. to Loomis, Sayles & Company, L.P. and IA Clarington Investments Inc. Commissions, trailing commissions, management fees, brokerage fees and expenses all may be associated with mutual fund investments, including investments in exchange-traded series of mutual funds. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The iA Clarington Funds are managed by IA Clarington Investments Inc. iA Clarington and the iA Clarington logo are trademarks of Industrial Alliance Insurance and Financial Services Inc. and are used under license.
The payment of distributions and distribution breakdown, if applicable, is not guaranteed and may fluctuate. The payment of distributions should not be confused with a Fund's performance, rate of return, or yield. Distributions paid as a result of capital gains realized by a Fund and income and dividends earned by a Fund are taxable in the year they are paid.
For further information: Rob Martin, VP, Marketing & Communications, iA Clarington Investments, email@example.com, T: 416-860-9880 ext. 8070